Chinese investors buy property in West Carrollton

A group of investors has purchased a warehouse in West Carrollton for $3 million.

The new owners — a group of Chinese investors — will use the property at 967 Watertower Lane for distribution purposes, said Steve Peters, principal of Apex Commercial Group LLC, who was involved in the deal representing the seller.

The buyer of the 140,000-squarefoot property was Watertower Properties LLC. The investors did their due diligence for the property quickly, he said.

“It was a good price,” Peters said Tuesday. “There’s not a lot of product like this out there, 100,000-squarefeet, that you can purchase right now. I knew it wouldn’t take long. I had really good activity on it.”

The transaction, closed last Friday, which happened to be Apex’s first official day of business. It was the new company’s first sizable transaction, Peters said.

The seller was a limited partnership, ECAL Associates, who owned the company that used to do business in the building, Outdoors Sports. The work that had been based in West Carrollton was moved to another warehouse in Bellefontaine, Peters said.

OwnerLand Realty in Mason represented the buyers. A message seeking comment was left for a broker there.